The Routledge Companion to Strategic Marketing

Cover
Half Title
Title Page
Copyright Page
Table of contents
Illustrations
Editors
Contributors
Preface
Acknowledgments
Part I Fundamentals
	1 Foundations of Strategic Marketing
		Introduction
		Strategic Marketing, Market Strategy, and Marketing Strategy
			Strategic Marketing
			Market Strategy
			Marketing Strategy
			Strategic Marketing Decisions: Some Characteristics
			Marketing Strategy Scope
			Marketing Strategy: Choice from among Alternatives versus Relative Emphasis on Alternatives
			Marketing Strategy, Marketing Tactics, and Marketing Management
				Marketing Management versus Marketing Strategy
				Marketing Strategy versus Marketing Tactics
			Marketing Strategy Drivers: Demand Side and Supply Side Drivers
		Strategic Marketing: Fundamental Issues
		Marketing Strategy: Premises
		References
	2 Economic Foundations of Marketing Strategy
		Introduction
		Pricing Strategy
			Single-product Monopoly Pricing
			Multiproduct Monopoly Pricing
			Durable-goods Pricing
			Customer Recognition and Behavior-based Price Discrimination
			Static Price Competition
			Dynamic Price Competition
		Product Line Strategy and Quality Communication
			Product Line Strategy
			Product Quality Communication
		Distribution Channels and Sales Force Management
			Channel Coordination
			Sales Force Management
		Advertising and Promotion Strategy
			Advertising
			Sales Promotion
		References
Part II Customers
	3 Customer Behavior and E-Commerce
		Introduction
		Customer Communication: Interpersonal Influence and Referral
			Word of Mouth
			Influencers
		Purchasing Behavior: Intention, Motivation, and Product Use
			Intention to Purchase
			Acquisition
			Returns
		Brand Perception: Cultural Branding and Brand Attitude
			Crisis
			Communities
		Conclusion
		References
	4 An Updated Framework for Customer Relationship Management
		Introduction
		Creating a Database
		Analyzing the Database
		Choosing the Appropriate Customers
		Using Marketing Programs to Target Customers
		Creating Relationship Programs
			Privacy Issues
		Metrics
		Conclusion
		Notes
		References
	5 Customer Journey: From Practice to Theory
		Introduction
		The Shopper Journey
		The Service Journey
		Mapping the Journey, Measuring the Experience
			Mapping the Customer Journey
			Measuring the Customer Experience throughout the Customer Journey
		Reflections and Future Directions
			Future Directions for Research
				Channels: Customer Search Strategies
				Interactions: Value-in-Experience
				Mapping and Measuring: Multi-dimensional
			Future Challenges for Business Practice
				Channels: Digitization of the Customer Journey
				Interactions: Personalization
				Mapping and Measuring: Big Data Challenge
		References
	6 Customer Satisfaction
		Customer Satisfaction Is Crucial to Business Success
		What Is Customer Satisfaction?
			Antecedents of Customer Satisfaction
			Measurement of Customer Satisfaction
		The Role of Customer Satisfaction in Marketing Strategy
			Satisfaction Traps
		Strategies for Achieving Higher Customer Satisfaction
			A Managerial Dilemma: Consistency versus Variability in Business Processes
		Resource Allocation: Should Firms Delight Customers?
		Satisfaction: New Frontiers
		Note
		References
	7 Customer Experience Creation in Today’s Digital World
		Introduction
		Customer Experience
			Measuring Customer Experience
		Customer Journey
		Customer Journeys and Customer Experience
		The Transforming Nature of Digital Technologies
			Mobile Devices
			Big Data and Machine Learning
			Artificial Intelligence and Robotics
			Internet of Things
		Conclusion and Implications
		References
Part III Competitors and Environment
	8 Competitor Analysis
		Competitor Analysis
		The Objectives of Competitor Analysis
		Identifying Competitors
			Identifying Competitors at the Product-market Level
			Substitution-in-use
			Using Purchase Behavior to Identify Competitors
			Identifying Potential Competitors
			Identifying Competitors at the Firm Level
			Competitive Blind Spots
			Identifying Competitor Information Needs
			The Competitor’s Marketplace Strategy
			The Competitor’s Source(s) of Competitive Advantage
			Assessing and Interpreting Competitive Signals and Actions
			Interpreting Competitor Signals
			Interpreting Competitor Actions
			The Competitor’s Response Profile
		Summary
		References
	9 Competitive Advantage
		Introduction
		Superior Resources
		Core Competencies
		Dynamic Capabilities
		Customer Orientation
		Challenges to Sustaining Competitive Advantage
		A Comprehensive View of Sustainable Competitive Advantage
		A Checklist of Mechanisms for Assessing Sustainable Competitive Advantage
		References
	10 Digital Ecosystem and Collaboration
		Introduction
		Digital Ecosystem Architecture
		Digital Ecosystem Governance
		Digital Ecosystem and Customer Centricity
		Digital Ecosystem and Customers as Co-creators
		Digital Ecosystems and Customer Trust
		Conclusion
		References
	11 We UBER Yet We GOOGLE: Gaining Early- and Late-mover Advantage
		Introduction
		Pioneering
			Pioneering Advantage
			Setting the Standard
			Awareness and Recall
			The Safe Choice
			Summary
		Fast Following
			Overtaking Pioneers
			Summary
		Late Movers
			Late-mover Advantage
			Summary
		Conclusion
		Notes
		References
	12 Competition and the Future of Retailing
		Introduction
		Retailing Competitiveness
		Data
		Advanced Technology
		Brand
		International
		Conclusion
		References
Part IV Company
	13 Global Marketing Organization
		The Global Market and Firms’ Global Marketing Strategies
		Role of Organization Structure
		International Marketing Organization for SMEs
			Organization Structure for SMEs with Limited International Involvement
			Organization Structure for SMEs with Moderate International Involvement
			Organization Structure for SMEs with High International Involvement
		Organization Structure for MNCs
			Organization Structure for MNCs Pursuing Multidomestic Marketing Strategy
			Organization Structure for MNCs Pursuing a Global Marketing Strategy
			Organization Structure for MNCs Serving Distinctive Customer Groups
			MNCs and Global Matrix Structure
		Organization Structure Must Fit Firms’ Strategy
		References
	14 Allocation of Marketing Resources
		Introduction
		Types and Principles of Resource Allocation Models
		Marketing Mix Allocation
			Allocation between Advertising and Sales Force
			Allocation between Advertising and Sales Promotion
			Other Marketing Mix Allocations
		Allocation across Products
		Allocation across Customers and Channels
		Allocation across Media
		Allocation across Countries and Markets
		Allocation over the Life Cycle
		Implications for Researchers and Managers
			Implications for Researchers
			Implications for Managers
		Conclusion
		Notes
		References
	15 Key Components of a Digital Marketing Strategy
		Marketing Strategy Framework and Digitization
		Digital Strategy Components
			Targeting Strategy
			Customer Acquisition
			Customer Retention
			Product
			Pricing
			Promotion and Omni-channel Strategies
			Market Intelligence
		Conclusion
		References
	16 Sustainable New Product Development Strategies
		Introduction
		The Business Case for Sustainable New Product Development
		Challenges in Sustainable New Product Development
		Sustainable New Product Development Strategies
		Success Factors for S-NPD Strategies
		Conclusion
		Note
		References
	17 Co-creation of Value in Service Marketing: An Approach Relevant to Managerial Decision Making
		Service Marketing and Value
		Value, Value Creation and Co-creation Seen from Different Perspectives
			The Nature of Consumption and Its Implications for Value Creation
		The Grönroos-Voima Value Creation Model
		Value Co-creation in the Joint Sphere
		Social Value Co-creation in the Customer Sphere
		Implications for Service Marketing
		Concluding Remarks
		References
	18 Designing a Corporate Innovation Strategy: The Cube Solution
		Introduction
		Unraveling the Innovation Terminology
		The Innovation Cube
			Change Impact
			Strategic Impact
			Market Impact
		Working with the Innovation Cube
			Incremental Innovations
			Operational Innovation
			Design Innovation
			Strategic Innovation
			Low-end Innovation
			Paradigm Innovation
			Industry Innovation
			Standard Innovation
			Capturing the Dynamics of Innovation Types
		Concluding Remarks
		References
	19 Omnichannel Strategy
		Introduction
		Conceptual Framework
		Consequences of Multichannel Shopping
			Effective Omnichannel Strategies
				Product Assortment
				Price
				Promotion
		Channel Design
		Moderators of the Drivers of Multichannel Shopping
		Mobile Marketing
		Conclusion
		Note
		References
	20 Pricing Strategies
		Introduction
		Common Pricing Methods
			Cost-plus Pricing
			Competition Oriented Pricing
			Customer Willingness to Pay–Based Pricing Strategies
			Factors to Consider while Setting a Price
		Pricing Strategies for Heterogeneous Consumers
			Price Discrimination
			Product Versioning
			Quantity Discounts
			Bundling
		Price Promotion
			Inventory Management
			Price Discrimination
			Customer Retention
			Awareness and Trial
			Competitive Response
			Attracting Customers to Store
		Behavioral Pricing
			Inconsistent Preferences
			Reference Dependence and Anchoring
			Social Preferences
			Assessing the Uncertain Future Value
			Choice Architecture/Framing
		Pricing Strategies for Services
			Flat-rate Pricing
			Per-unit Pricing
			Non-linear Pricing
		Innovation in Pricing
			Pay What You Wish
			Pay-for-performance Pricing
			Neuro-pricing
			Freemium Pricing Models
		Conclusion
		Note
		References
	21 Mobile Payment Systems
		Introduction
		Mobile Money
		M-pesa Agent Network
		Peer-to-peer Transfers
		Smoothing of Financial Shocks
		Petty-crime Risk Amelioration
		Retail Credit
		Effects on Employer Costs
		Opportunities
		Discussion
		Notes
		References
	22 Marketing Communication Strategy in the Age of Interactive Media
		Introduction: Advertising Formats Everywhere
		Five Strategic Categories of Marketing Communication
			Owned-push Communication
			Owned-pull Communication
			Paid-push Communication
			Paid-pull Communication
			Earned Communication
		The Evolution of Push and Pull
		Allocating to the Proliferation
		The Multi-armed Bandit Framework
		Genetic Algorithms
		Some Open Questions
		References
	23 Social Media Strategy
		Introduction
		Defining Strategic Social Media Marketing
			Tactical versus strategic
			The Scope of Strategic Social Media Marketing
		Key Strategic Considerations
			Align Strategic Social Media Marketing with the Firm’s Strategic Objectives
			Resist Short-termism and Focus on the Bigger Picture
			Take Advantage of Social Media’s Unique Property of Interactivity
			Take Advantage of Social Media’s Unique Property of Multi-way Communications and the Ability to Easily Share Information
			Develop and Defend Marketing Assets through Social Media Activities
		Conclusion
		References
	24 Marketing Strategy and Corporate Social Responsibility
		Introduction
		Marketing Can Cause Harm: To and by Consumers
		Ethical Consumerism and the Business Case for CSR
		Consumer Perceptions of CSR Communications
		CSR and a Broad Stakeholder Orientation in Marketing
			Avoiding Marketing Myopia through Stakeholder Marketing
		Marketing and CSR: A Mutualistic Symbiosis
		Conclusions
		Notes
		References
	25 International Market Entry and Expansion
		Introduction
		The Changing Role of International Marketing Modes
		Theoretical Perspectives on Export Mode Choice
			Uppsala Model
			Transaction Cost Analysis
			Resource Based View of the Firm
			Institutional Theory
			Born Globals
		Export Mode Typologies and the Importance of Exporting
		Determinants of Export Mode Selection
			Country and Institutional Factors
			Firm-level Factors
		Changes in Export and Entry Modes
		Future Research in Export and Entry Mode Choice
		Concluding Remarks
		References
Part V Impact of Marketing Strategy
	26 Accounting for Intangible Assets: The Strategic Performance of Marketing
		Introduction
		Marketing’s Historical Roots
		The Role of Intangible Assets
		Managing Intangible Assets
		Emerging International Standards
		The Contributions of Marketing
		Extending the Role of Marketing
		Note
		References
	27 Market Orientation and Profitability
		Introduction
		Market Orientation: What’s All the Fuss about?
		Is It So Simple?
		Sufficient Investment versus Trade-offs
		Crisis?
		What about the “Special Circumstances”?
		Conclusion
		Notes
		References
	28 Customer Lifetime Value: What, How, and Why
		Introduction
		What Is CLV?
			Customer Lifetime Value – Concept and Definition
			Drivers of CLV
		How Is CLV Measured?
			Customer Lifetime Value and Other Marketing Metrics
			Extensions of the CLV Metric
			Customer Referral Value
			Business Reference Value
			Customer Influence Value
			Customer Brand Value
			Customer Knowledge Value
			Salesperson Future Value
			Donor Lifetime Value
			Customer Engagement Value
		Why Adopt a CLV-based Approach?
			CLV Maximization Strategies
			Customer Selection
			Managing Loyalty and Profitability Simultaneously
			Optimal Allocation of Resources
			Cross-buying
			Pitching the Right Product to the Right Customer at the Right Time
			Preventing Customer Attrition
			Managing Product Returns
			Managing Multi-channel Shoppers
			Acquiring Profitable Customers
			Linking CLV to Shareholder Value
			CLV Case Studies
			A B2B Case Study
			A B2C Case Study
		Concluding Thoughts
		References
	29 Overcoming Quality Issues in Digital Display Advertising Using Digital Dashboards
		Introduction
		Ad Fraud
			Status Quo
			Dashboards to Detect, Measure, and Prevent Ad Fraud
		Ad Viewability
			Status Quo
			Dashboards to Detect, Measure, and Prevent Viewability Issues
		Brand Safety
			Status Quo
			Dashboards to Detect, Measure, and Prevent Brand Safety Issues
		Ad Clutter
			Status Quo
			Dashboards to Detect, Measure, and Prevent Ad Clutter
		Summary
		Notes
		References
Index